I purchased a 2003 360 Spider this past April (private sale). The owner's asking price was $89,900 Canadian dollars. The car had 14,000 miles on it, two previous owners, one for 2 years in the US and the second one in Canada 8 years. I was ideally seeking red with tan interior with a gated manual. It was challenging to find one. The car I purchased was Nero with Tan and gated shifter. After a lot of tough negotiating, I was able to buy it for 84,000 (the belt service will be due in 2014). I love the car and I have put 3,500 miles on the car since purchase (we have 3 cars but I drive it every weekend or when I just want the Ferrari fix).I was fortunate that my mechanic, who owns Ferrari's came with me. I paid 500.00 at the Ferrari dealer for a PPI and purchased the carfax. And we were allowed in when the car was on the hoist which was a bonus as my mechanic could take a closer look. I have not spent any money on the car other than gas and detailing. I read every Ferrai review, went to many sites, including this excellent one to find all the pros and cons of the 360 spider as well as price points, etc.- this was also very helpful
I would get the PPI, drive the car, get a carfax, and if you trust the history make a reasonable offer. I know I will be spending money on repairs, but that is the nature of owning this special sports car. I had a Tesla Model S on order, thought about buying the new vette, Jag F type, 911 turbo and a few others. I have enjoyed every second of ownership of this car. It is like driving a go cart - this car is fun to drive, people have been great when seeing the car and I must confess to opening my access door to my garage the odd time just to stare at it - it is art on wheels.
Find the right 360 - this one sounds like it might be the one, Make sure you get the PPI, car fax, etc. although none of these guarantees you won't have problems it will mitigate the odds. Buy the 360 Spider. I don't think you will regret it.